HomeMy WebLinkAboutResolution No. 08-R21RESOLUTION NO. 08-R21
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF AZUSA, CALIFORNIA, APPROVING
THE FIRST AMENDMENT TO THE FIRST AMENDED
AND RESTATED DISPOSITION AND DEVELOPMENT
AGREEMENT BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA AND REG AZUSA,
LLC, A DELAWARE LIMITED LIABILITY COMPANY
WHEREAS, pursuant to the California Community Redevelopment Law (Health &
Safety Code Sections 33000, et seq.) ("CRL"), the City Council of the City of Azusa ("City")
approved and adopted a Redevelopment Plan ("Redevelopment Plan") for the redevelopment
Project Area known as the Merged Central Business District and West End Redevelopment
Project Area ("Project Area"); and
WHEREAS, the Governing Board of the Redevelopment Agency of the City of Azusa
("Agency") is engaged in activities to implement the Redevelopment Plan for the Project Area
pursuant to the provisions of the CRL; and
WHEREAS, on January 16, 2007, the Agency approved that certain 2006 Disposition
and Development Agreement (Block 36 Project) with REG Azusa, LLC, a Delaware limited
liability company ("Developer") for the disposition and development of certain real property
("Property") as a mixed-use project ("Project") including 32,500 square feet of commercial
space, sixty-six (66) housing units and a 330 stall subterranean parking structure, as set forth in
the Agreement; and
WHEREAS, on November 19, 2007, the Agency approved that certain First Amended
and Restated Disposition and Development Agreement ("Agreement"); and
WHEREAS, the Parties now desire to amend the Agreement to extend the close of
escrow date, add additional performance milestones, and revise the lease up provisions; and
WHEREAS, the revised deal structure will facilitate the completion of the Project and the
elimination of blight within the Project Area; and
WHEREAS, the Agency has previously prepared, and the City Council has previously
reviewed and considered, a summary report ("Summary") setting forth: (1) the cost of the
Agreement to the Agency; (2) the estimated value of the interest to be conveyed; and (3) an
explanation of how the acquisition and conveyance of the Property will assist in the elimination
of blight within the Project Area in accordance with CRL Section 33433; and
WHEREAS, on November 19, 2007 the City Council made the requisite findings set
forth in Section 33433 with respect to the disposition of the Property; and
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WHEREAS, on May 15, 2008 and May 22, 2008, the City caused notice of the a joint
public hearing of the City Council and the Agency's Governing Board to be published in The
Herald, a newspaper of general circulation within the Agency's territorial jurisdiction; and
WHEREAS, on May 27, 2008, the City Council ratified its consideration of the Summary
and related findings pursuant to Health and Safety Code Section 33433 as it relates to this First
Amendment to the Amended and Restated Disposition and Development Agreement finding that
the modifications in this First Amendment do not modify the substantive provisions of the
Agreement addressed by the Summary report; and
WHEREAS, the Agency is the lead agency concerning the Project pursuant to the
California Environmental Quality Act ("CEQA") and the State CEQA Guidelines; and
WHEREAS, the Agency staff has reviewed the General Plan and Development Code
Environmental Impact Report ("EIR") prepared by the City as well as the Addendum to the
General Plan and Development Code EIR ("Addendum") adopted on May 1, 2006 for this
Project in particular and has determined that the EIR and the Addendum adequately considered
the development of the Project and the impacts of mixed use development in the Project Area
and that no new or additional impacts are associated with the Project and therefore no subsequent
or supplemental review is necessary.
NOW, THEREFORE, BE IT RESOLVED by the Governing Board, of the
Redevelopment Agency of the City of Azusa as follows:
Section 1. The Governing Board hereby directs Agency staff to file a Notice of
Determination with the Los Angeles County Clerk's office within three (3) calendar days of the
adoption of this Resolution.
Section 2. The Governing Board approves the First Amendment to the Amended and
Restated Disposition and Development Agreement together with non -substantive changes and
amendments as may be approved by both the Executive Director and Agency Counsel.
Section 3. The Governing Board hereby authorizes and directs the Executive Director to
take any action and execute any documents necessary to implement the First Amendment to the
Amended and Restated Disposition and Development Agreement.
Section 4. The Agency Secretary shall certify to the passage and adoption of this
resolution and the same shall thereupon take effect and be in force immediately upon its
adoption.
APPROVED AND ADOPTED this 27"' day of May, 2008.
seph R. Rocha, Chair of the Redevelopment
Agency of the City of Azusa
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ATTEST:
Vera Mendoza, Agency Secretary
I HEREBY CERTIFY that the foregoing resolution No. 08-R21, was duly adopted by
the Redevelopment Agency of the City of Azusa at a special meeting held on the 27"' day of
May, 2008 by the following vote of the Agency:
AYES: AGENCY MEMBERS: GONZALES, CARRILLO, MACIAS, HANKS, ROCHA
NOES: AGENCY MEMBERS: NONE
ABSTAIN: AGENCY MEMBERS: NONE
ABSENT: AGENCY MEMBERS: NONE
Veraq Mendoza,
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